Spotify's monthly user base rose 12 percent in the second quarter and operating profit was higher than analysts' expectations. But the stock is down after the report.
BusinessSpotify's stock is falling after a quarterly report in which the Stockholm-based streaming service beat expectations for user numbers in the first quarter. Profits rose above expectations, but the profit forecast for the second quarter came in slightly below what the market had expected.
Business"As of today, audiobooks are available on Spotify – a news that shakes up literary Sweden. It's a truly fantastic day for us at Spotify," says incoming CEO Alex Norström.
EntertainmentThe founder Daniel Ek is stepping down from the CEO position for the streaming service Spotify at the turn of the year and will then get two replacements. I have developed from being a player to becoming more like a coach, explains Daniel Ek.
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